Here we are with today’s (18-OCT-2010) NIFTY Future analysis:
Nifty Future is likely to be bearish till its first support level of 6019. If it continues to trade below this level then we see immediate intraday support at 5982 levels. If it trades above 6033, Target for Nifty Future comes to 6060 and 6077 in extension.
Our Analysis: BUY NIFTY FUTURE ABOVE 6019 FOR TARGET: 6055 / 6077 STOP LOSS SHOULD BE PLACED AT 6099.
ALTERNATIVE: SELL NIFTY FUTURE BELOW 5972 FOR TARGET: 5932 / 5911 STOP LOSS AROUND 5994.
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